Quicken incorrectly posts payment transactions that were downloaded from my bank.

buckeye102

My bank CORRECTLY pays $100 to credit card company A and $200 to credit card company B. When Quicken downloads these transactions they are INCORRECTLY posted to my credit card accounts.
Quicken will post the payment to credit card company A to the account for credit company B AND it will post the payment for credit card company B back into the checking account register from which it came. I have observed this for 4-5 mos. now and have reset the accounts without success. Any ideas?

Jim_Harman

Do you have Bill Reminders set up for these payments? 

If so, I recommend you review the Reminders to make sure they are set up correctly as described below

If not, you should set up Reminders so that the Payees are Credit Card A and Credit Card B and the Categories are [Credit Card A] and [Credit Card B] with the [square brackets] respectively. When you know when and how much the payment will be (usually about 18 days before the bill is due) you can  accept the reminder, filling in the amount and date. This will put the future dated transfer in your register. Then when the transaction downloads from the bank, Quicken should match it to the transaction that is already in your register, based on the date and and amount. If the match is not correct, you can change it before accepting the transaction.

You should not blindly Accept All downloaded transactions, and at Edit > Preferences > Downloaded transactions you should not have the "Automatically add to banking registers" box checked. If the amount is different each month, you should not set the Reminder to Auto enter. 

splasher

Are these downloads to the credit card accounts or your checking account?

Frankx

Hi @buckeye102,

It is obvious that you are frustrated, but it is important for us to know EXACTLY how you entered/recorded those transactions if you want us to help you understand what went wrong and how to fix it.

All that being said:

1) When you say "My bank CORRECTLY pays...
- please first tell us how you direct "My bank" to make the payments to company A and company B.  Do you go to the bank's website to make the payments?  Do you direct Quicken to make the payment from your bank- through Quicken?  Or is it something else????

2) Exactly how are the "INCORRECTLY posted to my credit card accounts"  - is one payment posted to the wrong account, or are both payments posted to the same account, or is it something else?

3) When you have "reset the accounts" exactly which accounts do you reset and could you please describe what you mean by "reset the accounts" - as that can mean different things to different folks.

4) And finally, have you ever been able to make these payments where they actually posted correctly to AND from the correct accounts?  If so what changed?

Get back to us and we'll do our best to sort these issues out.

Frankx